The Memphis Grizzlies and the City of Memphis have reached an agreement to extend the team’s stay in Memphis past the 2028–2029 NBA season, and they intend to invest $550 million in FedExForum improvements.
The team is now working under a first lease that ends in 2029.
A financial proposal that would distribute the expenditures over a maximum of ten years rather than in a single massive bond issuance has been mostly agreed upon by the Grizzlies and the city.
In addition to saving the taxpayer hundreds of millions in interest payments over time, that schedule would probably limit the extent of a FedExForum refurbishment.
“The City of Memphis and Memphis Grizzlies have a plan for spending $550 million on renovations to FedExForum and an understanding of a long-term agreement to keep the team in Memphis beyond the 2028-29 NBA season…”https://t.co/XegSJNl9J3 pic.twitter.com/SG4whwzTiS
— The Memphis Holler (@MemphisHoller) August 19, 2025
